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Havish Gupta
Figuring Out • 8m
$160 Million Funding, 7 Years & Still Struggling! So Momentus is a space tech company aiming to revolutionize satellite deployment. Here’s what they do: A rocket carries Orbital Transfer Vehicles (OTVs) to space. These OTVs, equipped with separate engines, transport satellites and cargo, releasing them into precise orbits. While OTVs have existed for a long time, Momentus aims to make them cheaper and more accurate than existing options. Their flagship OTV, Vigoride, completed its first flight in 2021. Founded in 2017 and backed by YC, Momentus' valuation once peaked at $1 billion before going public in 2021. However, after a $7 million fine from the U.S. government and other setbacks, their valuation dropped to $600 million. Also, The company keeps facing criticism for delayed launches and falsifying test lanch results. As of Feb 24, Momentus has completed four missions and deployed 17 satellites. But they have informed the shareholders about financial trouble which also lead to cancelled missions. For context, SpaceX spent about $80 million to achieve its first successful launch. Momentus, despite spending twice as much, is still struggling to establish a reliable product. So, what do you think about the future of these space tech start-ups?
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